Christine Bruno

Christine Bruno

May 22, 2018

The following article was published by the IRS.

During the summer, taxpayers often rent out their property. They usually think about things such as cleanup and maintenance, but owners also need to be aware of the tax implications of residential and vacation home rentals.

Christine Bruno

The term Point of Sale (POS) describes the place where retail transactions are made. Think of it as the equivalent of a cash register. POS includes the hardware and software related to transactions,...

Christine Bruno

May 8, 2018

The following article was published by the IRS.

During National Small Business Week, the IRS focused on educating employers about the employer credit for paid family and medical leave created by the Tax Cuts and Jobs Act passed last year. Employers may claim the credit based on wages paid to qualifying employees while they are on family and medical...

Christine Bruno

May 1, 2018

The following article was published by the IRS.

While the federal income tax-filing deadline has passed for most people, there are some taxpayers still facing tax-related issues. This includes people who still haven’t filed, people who haven’t paid their taxes or those who are waiting for their tax refund.

Christine Bruno

SCORE found that of the 28.8 million small businesses in the U.S., 19% are family-owned businesses (any business in which two or more family members operate the company and the majority control lies within the...

Christine Bruno

April 17, 2018

The following article was published by the IRS.

All taxpayers should file their taxes on time, even if they can’t pay what they owe. This saves them from a potential failure-to-file penalty. While taxes are due by the original due date of the return, some taxpayers are unable to pay them by the deadline.

Christine Bruno

April 12, 2018

The following article was published by the SBA.

April is National Volunteer Month, a time to recognize the people who give their time and talents to benefit others. At SCORE, our volunteers are the lifeblood of our organization as they enable us to fulfill our mission of helping entrepreneurs start and grow their small businesses.

Christine Bruno

April 10, 2018

The following article was published by the IRS.

To ensure they meet their tax obligations, taxpayers should file accurate tax returns. If a taxpayer makes an error on their tax return, it will likely take longer to process and could delay a refund. Taxpayers can avoid many common errors by filing electronically, the most accurate way to file a tax...

Christine Bruno

Christine Bruno

April 3, 2018

The following article was published by the IRS.

Taxpayers who have questions about the Tax Cuts and Jobs Act have several resources that will help answer questions. The legislation, passed in December 2017, changes many areas of the tax law. Here are some of the resources on IRS.gov that will help...

Christine Bruno

March 22, 2018

The following article was published by the IRS.

You’ve probably heard of “brand advocates” who help promote products they use on social media. (Maybe you even have some online brand advocates of your own.) But did you realize that your business has brand advocates off-line as well?

Christine Bruno

March 20, 2018

The following article was published by the IRS.

Many taxpayers may need to take out money early from their Individual Retirement Account or retirement plan. Doing so, however, can trigger an additional tax on early withdrawals. They would owe this tax on top of other income tax they may have to pay. Here are a few key points to...

Christine Bruno

Christine Bruno

March 13, 2018

The following article was published by the IRS.

Scammers and cyberthieves continue to use the IRS as bait. The most common tax scams are phone calls and emails from thieves who pretend to be from the IRS. Scammers use the IRS name, logo, fake employee names and badge numbers to try to steal money and identities from taxpayers.

Christine Bruno

March 7, 2018

If you get a letter from the IRS proposing changes to your tax return (IRS CP2000), watch this video to learn how to respond. For the fastest results, use the phone number on the letter to contact the...

Christine Bruno

Christine Bruno

February 20, 2018

The following article was published by the IRS.

The Internal Revenue Service recently reminded taxpayers and tax professionals that they will be asked to verify their identities if they call the IRS. This is part of the agency’s efforts to keep taxpayer data secure from identity thieves.

Christine Bruno

February 6, 2018

The following article was published by the IRS.

The IRS is now accepting tax returns as the annual tax filing season is underway. The IRS expects taxpayers to file more than 155 million returns this year. Here are some things for taxpayers to consider as they are filing:

Christine Bruno

Christine Bruno

January 30, 2018

The following article was published by the IRS.

With the tax filing season kicking off today, the IRS reminds taxpayers about tools that will help answer questions. Taxpayers can access Publication 17, the Interactive Tax Assistant, and Where’s My Refund? on IRS.gov.

Christine Bruno

January 23, 2018

The following article was published by the IRS.

Grandparents who work and are also raising grandchildren might benefit from the earned income tax credit. The IRS encourages these grandparents to find out, not guess, if they qualify for this credit. This is important because grandparents who care for children are often not aware that they could...

Christine Bruno

January 16, 2018

The following article was published by the IRS.

The IRS extended the 2018 due date for certain employers and health coverage providers to furnish 2017 health coverage information forms to individuals. The following organizations now have until March 2, 2018, to provide Forms

Christine Bruno

January 2, 2018

The IRS uses social media tools to share the latest information about taxes, as well as about services offered to taxpayers. With just a couple months before people start filing their taxes, it’s the perfect time for taxpayers and tax preparers to connect with the IRS through these social media tools:

Christine Bruno

December 26, 2017

The following article was published by the IRS.

The IRS recently announced that it has extended the 2018 due date for certain entities to provide 2017 health coverage information forms to individuals. Insurers, self-insuring employers, other coverage providers, and applicable large employers now have until March 2, 2018, to provide...

Christine Bruno

December 19, 2017

The following article was published by the IRS.

Passwords are often the key to guarding access to personal information and data stored on computers or sent over email. Because most taxpayers file their returns electronically and access account information online, it is critical for taxpayers to not only create strong passwords for all tax-related...

Christine Bruno

December 12, 2017

The following article was published by the IRS.

With the online holiday shopping season in full swing, it’s the perfect time for all taxpayers to take steps to protect their identities and personal data. This year, the IRS kicked off this annual event with

Christine Bruno

According to Bank of America’s Fall 2017 Small Business Owner Report, 35%of small businesses plan to offer year-end bonuses. These bonuses are an important way to retain good employees, especially during...

Christine Bruno

Advertising can be a powerful way to deal with marketing challenges such as low brand awareness, a declining customer base or heavy competition. Or perhaps you simply have a desire to drive more foot...

Christine Bruno

November 28, 2017

The following article was published by the IRS.

During the holiday shopping season, shoppers are looking for the perfect gifts. At the same time, criminals are looking for sensitive data. This data includes credit card numbers, financial accounts and Social Security numbers. Cybercriminals can use this information to file a fraudulent tax...

Christine Bruno

Christine Bruno

November 21, 2017

The following article was published by the IRS.

With the holidays around the corner, many people will be making donations to benefit charitable organizations. However, come tax time, the person who made the donation might also benefit. That’s because taxpayers who donate to a charity may be able to claim a deduction for the donation on their...

Christine Bruno

November 9, 2017

The following article was published by the SBA.

Small Business Saturday is bigger than ever—and despite what you may think, it’s not just for retailers or even just for brick-and-mortar businesses. Here’s what you need to know and how to take advantage of small business’s big day.

Christine Bruno

It’s not unusual to turn a hobby into a business, and that includes crafting. If you have ever thought about selling your crafts or turning your crafting love into a part-time or full-time business, here are things...

Christine Bruno

October 31, 2017

The following article was published by the IRS.

Charitable organizations have 24/7 access to online courses on Stay Exempt, an IRS website. The IRS created this site to help charities better understand tax issues that affect tax exempt organizations. It...

Christine Bruno

October 25, 2017

Watch this video to find out what you should do if you get a letter from the IRS saying your tax return is being audited. Or go to youtube.com/irsvideos and search “Understanding Your Audit Letter and Form...

Christine Bruno

October 17, 2017

The following article was published by the IRS.

While taxpayers will not start filing their tax returns for a few months, there are a few things they can do to make the process easier next year. Here are two things that could affect the 2017 returns they will file in 2018.

Christine Bruno

October 10, 2017

The following article was published by the IRS.

Taxpayers who requested an extension of time to file their federal tax returns have until Oct.16 to double-check their returns for tax benefits that people often overlook. These taxpayers still have time to see if they can benefit from these four credits.

Christine Bruno

October 4, 2017

The IRS has updated its website, making it easier to use. If you are away from your computer, you'll now be able to use your smartphone or tablet. Watch this video to learn about some of the new features...

Christine Bruno

October 3, 2017

The following article was published by the IRS.

The Internal Revenue Service has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its possessions to provide temporary emergency housing to individuals who are...

Christine Bruno

September 28, 2017

The following article was published by the SBA.

Sometimes you just want or need to walk away from your business assets…they aren’t productive anymore, you can’t sell them, or you can’t continue making payments on loans used to finance their purchase. What does this mean from a tax perspective? It depends on the property and...

cbruno

September 19, 2017

The following article was published by the IRS.

Guess what people are doing right now? They’re starting their holiday shopping.

They may not be decking the halls yet, but 17 percent of shoppers surveyed by the National Retail Federation said they start researching holiday purchases before September, while 8 percent reported making...

Christine Bruno

September 12, 2017

The following article was published by the IRS.

Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced today.

Today’s relief parallels that granted last month to victims of Hurricane...

Christine Bruno

August 22, 2017

The following article was published by the IRS.

Mistakes happen and tax returns are no exception. Filing an amended tax return corrects information that changes tax calculations. This includes making changes to filing status and dependents, or correcting income credits or deductions. Don’t file an amended return to fix math errors because the...

Christine Bruno

August 10, 2017

For small business owners, it can be difficult to find good job candidates. Small businesses often times have to compete in the job market with large employers offering an attractive menu of fringe benefits. A possible solution for small businesses is finding workers who can be trained for the jobs they have.

Christine Bruno

July 27, 2017

The following article was published by the SBA.

Put down the leftover hotdogs, sparklers, and souvenir American flags. Yes, summer has barely started—but if you’re a small business owner whose profitability depends on the holiday shopping season, it’s time to start planning your marketing strategy now.

Christine Bruno

July 26, 2017

If you are moving across state or across the country, your moving expenses will probably be tax-deductible. If you are moving across town, they might not be. Watch this video to find out which of your moving...

Christine Bruno

July 25, 2017

The following article was published by the IRS.

The Internal Revenue Service recently encouraged taxpayers to consider checking their tax withholding, keeping in mind several factors that could affect potential refunds or taxes they may owe in 2018.

Reviewing the amount of taxes withheld can help taxpayers avoid having too much or too...

Christine Bruno

July 19, 2017

An IRA is a great option for some investors as a part of their retirement portfolio. Not sure if you should open a conventional IRA or a Roth IRA? This video gives great tips on using a conventional IRA with...

Christine Bruno

July 18, 2017

The following article was published by the IRS.

Members of the military may qualify for tax breaks and benefits. Special rules could lower the tax they owe or give them more time to file and pay taxes. In addition, some types of military pay are tax-free.

Christine Bruno

Christine Bruno

June 27, 2017

The following article was published by the IRS.

The Internal Revenue Service today issued a warning that tax-related scams continue across the nation even though the tax filing season has ended for most taxpayers. People should remain on alert to new and emerging schemes involving the tax system that continue to claim victims.

Christine Bruno

June 22, 2017

For many small business owners, thinking about taxes occurs only twice a year … when returns are being prepared and perhaps at the end of the year. This is a mistake. With half of 2017 over, now is a great time to assess where you stand and to take action that will be helpful to your 2017 tax bill.

Christine Bruno

June 20, 2017

The following article was published by the IRS.

The Internal Revenue Service recently announced the addition of several new features to the online account tool first introduced late last year as part of the IRS's commitment to improve and expand taxpayer services.

The online account allows individual taxpayers to access the latest...

Christine Bruno

June 13, 2017

The following article was published by the IRS.

Small business owners that offer goods and services through an online platform may be part of the sharing economy. Some participate part time while others operate full time. Activities such as ride sharing, freelancing, renting a spare bedroom and crowd funding are usually taxable. The IRS has a...

Christine Bruno

May 30, 2017

The following article was published by the IRS.

The IRS offers a variety of payment options where taxpayers can pay immediately or arrange to pay in installments. Those who receive a bill from the IRS should not ignore it. A delay may cost more in the end. As more time passes, the more interest and penalties accumulate.

Christine Bruno

If you have even one employee, you may be impacted by law changes occurring at your state or local level. Small business owners want to do the best they can for their workers, but often cost limits how generous...

Christine Bruno

Christine Bruno

May 24, 2017

The following article was published by the IRS.

Eligible small business startups can now choose to apply part or all of their research credit against their payroll tax liability, instead of their income tax liability, according to the Internal Revenue Service.

This new option will be available for the first time to any eligible small...

Christine Bruno

May 16, 2017

The following article was published by the IRS.

The Internal Revenue Service today reminded employers planning to hire new workers that there's a valuable tax credit available to those who hire long-term unemployment recipients and others certified by their state workforce agency.

Christine Bruno

Christine Bruno

May 9, 2017

The following article was published by the IRS.

Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing -- no matter what a person's passion, the Internal Revenue Service offers some tips on hobbies.

Christine Bruno

May 2, 2017

The following article was published by the IRS.

In recognition of National Small Business Week -- April 30 to May 6 -- the Internal Revenue Service is highlighting products to help small business owners and self-employed individuals understand and meet their tax obligations. Some of these tools focus on an emerging area of business activity -- the...

Christine Bruno

April 11, 2017

The following article was published by the IRS.

Taxpayers usually will have taxes withheld from their pay if they are an employee. However, if a person doesn't have taxes withheld, or they don't have enough tax withheld, they may need to make estimated tax payments. Taxpayers that are self-employed normally have to pay their taxes this...

Christine Bruno

Christine Bruno

April 4, 2017

The following article was published by the IRS.

Taxpayers who use their home for business may be able to deduct expenses for the business use of it. Qualified persons can claim the deduction whether they rent or own their home. Use the simplified method or the regular method to claim a deduction.

Christine Bruno

March 21, 2017

The following article was published by the IRS.

The Internal Revenue Service recently reminded taxpayers who turned age 70½ during 2016 that, in most cases, they must start receiving required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs) and workplace retirement plans by Saturday, April 1, 2017.

Christine Bruno

Christine Bruno

March 7, 2017

The following article was published by the IRS.

If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016.

Christine Bruno

Individuals whose businesses are incorporated do not have to think about self-employment tax. Any salary they take from their corporations as owner-employees are subject to FICA taxes. In contrast, those with other...

Christine Bruno

Christine Bruno

January 3, 2017

The following article was published by the IRS.

Under the Affordable Care Act, insurance companies, self-insured companies, and large businesses and businesses that provide health insurance to their employees must submit information returns to the IRS and individuals reporting on health coverage.

Christine Bruno

December 27, 2016

The following article was published by the IRS.

As the tax filing season approaches, the Internal Revenue Service reminds low- and moderate-income workers that they can take steps now to save for retirement and earn a special tax credit in 2016 and years ahead.

The saver's credit helps offset part of the first $2,000 workers voluntarily...

Christine Bruno

While December is a busy time for small businesses trying to end the year on a high note, it should also be a time for introspection and review. After all, December is National Write a Business Plan...

Christine Bruno

December 12, 2016

We are seeking an accounting supervisor/manager for a position in our growing CPA firm located on the South Shore. The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift, as well as review and some preparation of audited, reviewed and compiled financial statements.

Christine Bruno

Christine Bruno

December 6, 2016

The following article was published by the IRS.

As tax filing season approaches, the Internal Revenue Service wants taxpayers who are self-employed or involved in the sharing economy to know about free resources that are available to help them with their taxes.

Sole proprietors and independent contractors can get helpful information from...

Christine Bruno

Christine Bruno

November 29, 2016

The following article was published by the IRS.

As the holidays approach, the Internal Revenue Service recently reminded taxpayers to remember that a new law requires the IRS to hold refunds until mid-February in 2017 for people claiming the Earned Income Tax Credit or the Additional Child Tax Credit. In addition, new identity theft and refund...

Christine Bruno

November 22, 2016

The following article was published by the IRS.

The Internal Revenue Service has opened the new registration and enrollment process for qualified taxpayers to receive the benefit of the Health Coverage Tax Credit (HCTC) on an advance monthly basis during 2017.

Eligible taxpayers can have 72.5 percent of their qualified health insurance...

Christine Bruno

November 16, 2016

This year you have a few extra days to file your tax returns as they are not due until April 18. Consider it an early Christmas gift from the IRS! This video explains why as well as advising you on a couple other...

Christine Bruno

November 15, 2016

The following article was published by the IRS.

A new federal law moves up the W-2 filing deadline for employers and small businesses to Jan. 31. The new law makes it easier for the IRS to find and stop refund fraud. It also delays some taxpayer refunds. Those taxpayers claiming the Earned Income Tax Credit or the Additional Child Tax Credit wont...

Christine Bruno

November 8, 2016

The following article was published by the IRS.

The Internal Revenue Service, state tax agencies and industry partners recently finalized plans for 2017 to improve identity theft protections for individual and business taxpayers after making significant inroads this year against fraudulent returns.

Christine Bruno

November 1, 2016

The following article was published by the IRS.

The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2017. The IRS today issued technical guidance detailing these items in

Christine Bruno

October 25, 2016

The following article was published by the IRS.

With another school year now in full swing, the Internal Revenue Service recently reminded parents and students that now is a good time to see if they qualify for either of two college tax credits or other education-related tax benefits when they file their 2016 federal income tax returns next...

Christine Bruno

October 18, 2016

The following article was published by the IRS.

The Internal Revenue Service advised taxpayers affected by Hurricane Matthew but not yet covered by a federal disaster declaration with individual assistance that they may qualify for relief from penalties if they are unable to meet Mondays extended deadline for filing 2015 tax returns.

Christine Bruno

October 11, 2016

The following article was published by the IRS.

The Internal Revenue Service offered advice to taxpayers who may be affected by storms or other natural disasters. The IRS also reminded taxpayers that the agency is here to help including offering a special toll-free number to taxpayers in federally-declared disaster areas, staffed with IRS...

Christine Bruno

Christine Bruno

October 4, 2016

The following article was published by the IRS.

Millions of taxpayers ask for an extra six months to file their taxes every year. If you are one of them, then you should know that Monday, Oct. 17 is the extension deadline in 2016. This is so because Oct. 15 falls on a Saturday. If you have not yet filed, here are some things to keep in mind about...

Christine Bruno

September 27, 2016

The following article was published by the IRS.

If you're recently married, you probably have a list of things to do. There's one other thing you should add to that list: a health insurance review. This is particularly important if you enrolled in coverage through a Health Insurance Marketplace and you receive premium assistance in the form of...

Christine Bruno

September 20, 2016

The following article was published by the IRS.

The Internal Revenue Service recently encouraged taxpayers to consider a mid-year tax withholding checkup following several new factors that could affect their refunds in 2017. Taking a closer look at the taxes being withheld can help ensure the right amount is withheld, either for tax refund...

Christine Bruno

August 17, 2016

If you have employees, it is your responsibility to withold taxes for Income, Social Security, and Medicare. You must deposit these witholdings into the U.S. Treasury via the EFTPS (Electronic Federal Tax Payment System).

Christine Bruno

August 16, 2016

The following article was published by the IRS.

Renting out a vacation property to others can be profitable. If you do this, you must normally report the rental income on your tax return. You may not have to report the rent, however, if the rental period is short and you also use the property as your home. Here are some tips that you should...

Christine Bruno

August 9, 2016

The following article was published by the IRS.

Millions of people enjoy hobbies. Hobbies can also be a source of income. Some of these types of hobbies include stamp or coin collecting, craft making and horse breeding. You must report any income you get from a hobby on your tax return. How you report the income from hobbies is different from how...

Christine Bruno

August 2, 2016

The following article was published by the IRS.

The Internal Revenue Service recently warned taxpayers to stay vigilant against an increase of IRS impersonation scams in the form of automated calls and new tactics from scammers demanding tax payments on iTunes and other gift cards.

Christine Bruno

July 26, 2016

The following article was published by the IRS.

Each year, many people get a larger refund than they expect. Some find they owe a lot more tax than they thought they would. If this has happened to you, review your situation to prevent a tax surprise. Did you marry? Have a child? Change in income? Life events can have a major impact on your taxes....

Christine Bruno

July 20, 2016

The following article was published by the IRS.

You may discover you made a mistake on your tax return. You can file an amended return if you need to fix an error. You can also amend your tax return to claim a tax credit or deduction. Here are 10 tips from the IRS on amending your return:

Christine Bruno

July 19, 2016

Senior Accountant

We are seeking a senior accountant for a position in our growing CPA firm located on the South Shore. The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift, as well as review and some preparation of audited, reviewed and compiled financial statements. A qualified...

Christine Bruno

July 14, 2016

The following article was published by the SBA.

Does your small business need a copywriter? Many small business owners try to save money by writing copy for their marketing materials, websites and ads themselves. However, unless you have experience in marketing copywriting, this generally isn’t a good idea.

Christine Bruno

July 12, 2016

The IRS offers many safe and easy ways to pay your taxes. These tips explain many of them:

Mailed tax bills. The IRS sends bills in the U. S. mail. Try to pay soon and in full to avoid any extra charges. If you cant pay in full, youll save if you pay as much as you can. The more you can pay the less interest and penalties you will owe for late payment. The IRS...

Christine Bruno

July 5, 2016

Many students get summer jobs. Its a great way to earn extra spending money or to save for later. Here are some tips for students with summer jobs:

1. Withholding and Estimated Tax. If you are an employee, your employer normally withholds tax from your paychecks. If you are self-employed, you may be responsible for paying taxes directly to the IRS. One way to do...

Christine Bruno

June 28, 2016

The following article was published by the IRS.

Self-insured employers, applicable large employers and health coverage providers are reminded that the June 30 deadline to electronically file information returns with the IRS is approaching. The deadline to provide information returns to employees or responsible individuals was March 31. While the...

Christine Bruno

Christine Bruno

June 21, 2016

The following article was published by the IRS.

Day camps are common during the summer months. Many parents enroll their children in a day camp or pay for day care so they can work or look for work. If this applies to you, your costs may qualify for a federal tax credit. Here are 10 things to know about the Child and Dependent Care...

Christine Bruno

June 9, 2016

The following article was published by the SBA.

With email marketing, social media marketing and online marketing grabbing most of the attention in recent years, you might think direct mail marketing is an outdated concept. Think again: Direct mail is enjoying something of a renaissance in both the B2B and B2C worlds, thanks in part to (surprise!)...

Christine Bruno

June 2, 2016

The following article was published by the SBA.

Small businesses facing poor or uncertain financial circumstances may be forced to consider drastic employment decisions including layoffs and benefit reductions. If your business faces such decisions, it important to understand your legal rights and obligations concerning employment...

Christine Bruno

May 31, 2016

The following article was published by the IRS.

If you are self-employed, visit IRS.gov for all your tax needs. Knowing the tax rules can help your business start, grow and succeed. For example, see IRS Publication 4902, Tips for the Cosmetology and Barber Industry. Here are...

Christine Bruno

Christine Bruno

May 25, 2016

The following article was published by the SBA.

If you are seeking a business structure with more personal protection but less formality, then forming an LLC, or limited liability company, is a good consideration. Regardless of your business structure, some paperwork like an operating agreement is expected. Here are the basics every...

Christine Bruno

May 19, 2016

The following article was published by the SBA.

“Save a part of your income and begin now, for the man with a surplus controls circumstances and the man without a surplus is controlled by circumstances.” That was advice given by Henry Buckley, an Australian politician in the 19th century. This sentiment is just as important today for...

Christine Bruno

May 17, 2016

You may be tempted to forget about your taxes once you’ve filed but some tax planning done now may benefit you later. Now is a good time to set up a system so you can keep your tax records safe and easy to find. Here are some IRS tips to give you a leg up on next year’s taxes:

Christine Bruno

May 12, 2016

The following article was published by the SBA.

As we celebrate National Small Business Week, the strength of America’s small businesses is at the top of our minds. Small businesses are essential to our communities and help to foster innovation in every industry.

Christine Bruno

Years ago I was a foreign correspondent in Mexico City, writing for Business Week and other business publications. One of my favorite contacts was an expert with the U.S. Embassy who updated me on Mexican oil industry...

Christine Bruno

April 26, 2016

The following article was published by the IRS.

April 18 was this year’s deadline for most people to file their federal tax return and pay any tax they owe. If you are due a refund there is no penalty if you file a late tax return. If you owe tax, and you failed to file and pay on time, you will most likely owe interest and penalties on the...

Christine Bruno

April 14, 2016

The following article was published by the SBA.

If you’re new to business, then wrapping your arms around your tax obligations can seem like an uphill task. The first question you need to ask yourself is which tax laws impact your business from the get-go? It may be safe to assume that your tax obligations kick in once you start making a...

Christine Bruno

April 5, 2016

If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your deduction. Here are six tips that you should know about the home office deduction:

Christine Bruno

Are you looking for a way to attract new customers? Social responsibility is a strong selling point when customers are considering purchases. Consider this: A Nielsen global online survey reports that...

Christine Bruno

March 23, 2016

This article was published by the IRS.

The Internal Revenue Service announced recently that Federal income tax refunds totaling $950 million may be waiting for an estimated one million taxpayers who did not file a federal income tax return for 2012. To collect the money, these taxpayers must file a 2012 tax return with the IRS no later than...

Christine Bruno

March 18, 2016

The following article was published by the SBA.

Clearly, technology has changed marketing a lot. We fast forward through ads on television and block them on our devices. We have amplified word of mouth in social media. We pour over analytics and metrics. But what about the marketing plan? Has technology changed marketing planning?

Christine Bruno

March 15, 2016

The following article was published by the IRS.

Under the Affordable Care Act, certain employers – known as applicable large employers or ALEs – may potentially be required to make an employer shared responsibility payment to the IRS if they do not offer

Christine Bruno

March 8, 2016

The following article was published by the IRS.

When you sell a capital asset, the sale normally results in a capital gain or loss. A capital asset includes most property you own for personal use or own as an investment. Here are 10 facts that you should know about capital gains and losses:

Christine Bruno

Ignoring your financial statement is like ignoring the health of your business. Startups and new business owners often overlook understanding gross margin. This can have a direct impact on your ability to effectively...

Christine Bruno

Christine Bruno

March 1, 2016

If you have income from investments, you may be subject to the Net Investment Income Tax. You may owe this tax if you receive investment income and your income for the year is more than certain limits. Here are some key tips you should know about this tax:

Net Investment Income Tax. The law requires a tax of 3.8 percent on the lesser of either your net...

Christine Bruno

February 23, 2016

The following article was published by the IRS.

When you file your taxes, you have options on how to receive your refund. The best way to get it is by direct deposit. Eight out of 10 taxpayers get their refunds by direct deposit. Here are six good reasons why you should do the same in 2016:

Christine Bruno

February 16, 2016

The following article was published by the IRS.

Starting this year, you may receive one or more forms providing information about the health care coverage that you had or were offered during 2015. Much like Form W-2 and Form 1099, which include information about the income you received, these forms provide information about your health care...

Christine Bruno

February 10, 2016

Make sure your taxes are done right by choosing a paid tax preparer who meets IRS requirements. Remember only enrolled agents, CPAs, and attorneys can represent you before the IRS in all matters. For more...

Christine Bruno

February 9, 2016

The following article was published by the IRS.

The period around Presidents Day marks the peak busy season for IRS toll-free phone service, but there are faster ways to find answers to your questions. The Internal Revenue Service provides tools and apps on IRS.gov...

Christine Bruno

February 2, 2016

The following article was published by the IRS.

Most people can claim an exemption on their tax return. It can lower your taxable income. In most cases, that reduces the amount of tax you owe for the year. Here are the top 9 tax facts about exemptions to help you file your tax return.

Christine Bruno

It's the time of year when everyone is throwing around predictions — and in the marketing world, emotion is shaping up to be a hot marketing trend for 2016. What does emotional marketing mean, and how can your...

Christine Bruno

January 26, 2016

The following article was published by the IRS.

Most people file a tax return because they have to, but even if you don’t, there are times when you should. You may be eligible for a tax refund and not know it. Here are six tips to help you find out if you should file a tax return:

Christine Bruno

Christine Bruno

September 9, 2015

David Abrams, President and Operations Director of the Chroma Color Bar salon, discusses the difference between a business idea and a business plan. Think twice before starting out if you don't have a very specific business...

Christine Bruno

Christine Bruno

August 12, 2015

We are seeking a senior accountant for a position in our growing CPA firm located on the South Shore. The work will entail senior level tax review and some preparation - individual, partnership, S-corporation, C-corporation, trust & gift, as well as review...

Christine Bruno

June 2, 2015

If you have a financial interest in or signature authority over a foreign financial account exceeding certain thresholds, the Bank Secrecy Act may require you to report the account yearly to the IRS by filing a Financial Crimes Enforcement...

Christine Bruno

May 28, 2015

The IRS has announced that a massive data breach occurred between February and May of 2015 via the "Get Transcript" app on its website, allowing tax returns of more than 104,000 taxpayers to be downloaded by identity thieves.

christine Bruno

March 17, 2015

Most people claim the standard deduction when they file their federal tax return. But did you know that you may lower your taxes if you itemize your deductions?

Find out if you can save by doing your taxes using both methods. Usually, the bigger the deduction, the lower the tax you have to pay. You should file your tax return using the method that allows you to pay the least amount of...

christine Bruno

March 12, 2015

Magic formulas, magic information

Be very careful with people selling names and lists for fat fees. For example, lists of commercial lenders, angel investors or venture capital firms are available free for anybody who can do a competent web search. But they are also sold as scams for hundreds of dollars, packaged as if they were magic formulas for easy money.

Christine Bruno

March 8, 2015

Bruno P.C. is excited to announce the recent launch of our firm’s new website. We’ve been working very hard to enhance our website and give our firm a fresh look. We’ve also continued to research and identify the latest and greatest technologies to improve the services we provide and ensure we continue to meet your needs.

christine Bruno

March 5, 2015

https://www.youtube.com/watch?v=AkJmyOkERa8

Research the qualifications of your tax return preparer with this new IRS tool. Go to irs.gov/chooseataxpro and click on “Directory of Federal Tax Return Preparers with Credentials and Select Qualifications.”

The directory contains a list of tax preparers who have professional credentials. You...

christine Bruno

March 4, 2015

Are you an entrepreneur looking to get your startup funded? Be careful.

I suppose it’s no surprise that hopeful entrepreneurs are good targets. Too often we’re led to believe that getting investment money is the ultimate victory. Supposedly we’re all going to be successful as soon as some investor says “yes” and we get a big check. And that eagerness to...

christine Bruno

February 19, 2015

According to Forbes, more than 52% of all small businesses in the U.S. are home-based. If you’re like most people who dream about starting their own business, now may be the best time to take the first step.

Starting a home-based business on the internet has never been easier and the opportunities have never been greater. Kevin Systrom, co-founder of Instagram, says, “If...

christine Bruno

February 10, 2015

It’s important that you use the correct filing status when you file your tax return.

Your status can affect the amount of tax you owe for the year. It may even affect whether you must file a tax return. Keep in mind that your marital status on Dec. 31 is your status for the whole tax year.

Sometimes more than one filing status may apply to you. If that happens, choose...

christine Bruno

February 5, 2015

How much will it take to start that new business you’re thinking of?

Use these simple steps to develop a good estimate. You don’t get to know for sure, but if you have the discipline to break things into meaningful pieces, and then research each of the pieces, you’ll have a good idea.

Starting costs for any new business are a matter of two simple lists. The...

christine Bruno

January 20, 2015

National Taxpayer Advocate Nina E. Olson released her 2014 annual report to Congress last week, expressing concern that taxpayers this year are likely to receive the worst levels of taxpayer service since at least 2001 when the IRS implemented its current performance measures.

The report recommends that Congress enact a principles-based “Taxpayer Bill of Rights”, adopt...

christine Bruno

January 13, 2015

new healthcare tax formsThis year, there are some changes to tax forms related to the Affordable Care Act.

Along with a few new lines on existing forms, there will also be two new forms that will need to be included with some tax returns. While most taxpayers will simply need to check a box on their tax return to indicate they had health coverage for all of 2014, there are also new...

christine Bruno

January 8, 2015

The most valuable business commodity is trust.

Richard Branson, author and founder of Virgin Group says, “Building trust in your brand isn’t easy to achieve and it may take time, but it doesn’t have to come at a high cost. With honesty, ambition, hard work and attention to detail you can instill a level of trust that will enable you to move...

christine Bruno

January 6, 2015

The Internal Revenue Service recently issued the 2015 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.

Beginning on Jan. 1, 2015, the standard mileage rates for the use of a car, van, pickup, or panel truck will be:

christine Bruno

January 2, 2015

There is a new publication that will help you learn about how the Affordable Care Act affects your taxes. IRS Publication 5187, Health Care Law:

What’s New for Individuals and Families is now available on IRS.gov/aca. While the health care law has several parts, this publication breaks down what’s new for the 2014 federal tax return you will be filing in 2015.

christine Bruno

December 26, 2014

Adjust Your Federal Income Tax Withholding. If it looks like you are going to owe income taxes for 2014, consider bumping up the federal income taxes withheld from your paychecks now through the end of the year.

When you file your return, you will still have to pay any taxes due less the amount paid in. However, as long as your total tax payments (estimated payments plus...

christine Bruno

December 23, 2014

Maximize Contributions to 401(k) Plans. If you have a 401(k) plan at work, it’s just about time to tell your company how much you want to set aside on a tax-free basis for next year. Contribute as much as you can stand, especially if your employer makes matching contributions. You give up “free money” when you fail to participate to the max for the match.

christine Bruno

December 18, 2014

Take Your Required Retirement Distributions.

The tax laws generally require individuals with retirement accounts to take withdrawals based on the size of their account and their age beginning with the year they reach age 701/2. Failure to take a required withdrawal can result in a penalty of 50% of the amount not withdrawn.

christine Bruno

December 16, 2014

Charitable Giving

You might want to consider two charitable giving strategies that can help boost your 2014 charitable contributions deduction.

First, donations charged to a credit card are deductible in the year charged, not when payment is made on the card. Thus, charging donations to your credit card before year-end enables you to increase your 2014 charitable donations...

christine Bruno

December 11, 2014

Many tax deductions and credits are subject to AGI-based phase-out, which means only taxpayers with AGI below certain levels benefit. [AGI is the amount at the bottom of page 1 of your Form 1040—basically your gross income less certain adjustments (i.e., deductions), but before itemized deductions and the deduction for personal exemptions.]

christine Bruno

December 9, 2014

Employ Your Child. If you are self-employed, don’t miss one last opportunity to employ your child before the end of the year.

Doing so has tax benefits in that it shifts income (which is not subject to the Kiddie tax) from you to your child, who normally is in a lower tax bracket or may avoid tax entirely due to the standard deduction.

christine Bruno

November 20, 2014

Business insurance is one of those gray areas. Do you need it or don’t you, and, if so, what kind? For certain businesses – for example, amusement parks and health care related industries – it’s an absolute necessity from the get-go, but what if you run a freelance business or engage in low-risk work? Is business insurance a requirement?

christine Bruno

November 6, 2014

November 29th is Small Business Saturday! That’s right, the day after Black Friday and before Cyber Monday is your chance to make a lasting impact in your community by encouraging shoppers to shop local.

But just how big an impact does the day have? According to research by American Express and the National Federation of Independent Business, consumers who were aware of Small...

christine Bruno

October 28, 2014

No need to file a Form SS-4! We ask you the questions and you give us the answers. After all validations are done you will get your EIN immediately upon completion. You can then download, save, and print your EIN confirmation notice.

Purpose of an Employer Identification NumberEmployer Identification Numbers are issued for the purpose of tax administration and are not intended...

christine Bruno

October 21, 2014

If you are an employer, the number of employees in your business will affect what you need to know about the Affordable Care Act (ACA).

Employers with 50 or more full-time and full-time-equivalent employees are generally considered to be “applicable large employers” (ALEs) under the employer shared responsibility provisions of the ACA. Applicable large employers are...

christine Bruno

October 15, 2014

https://www.youtube.com/watch?v=qb3iImTLeow

The IRS has a new penalty relief program to help small businesses file past-due Form 5500-EZ retirement plan returns. The program helps taxpayers file late returns and avoid penalties which could range upward of $15,000 per late return, plus interest.

christine Bruno

October 13, 2014

The Internal Revenue Service is urging taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically.

More than a quarter of the nearly 13 million taxpayers who requested an automatic six-month extension this year have yet to file. Although Oct. 15 is the last day for most people,...

christine Bruno

October 9, 2014

Words can be a very powerful tool. They can help you connect with customers, assist in negotiation and, ultimately, they can help you build your business. That’s why it’s vital to pick your words wisely.

Sometimes otherwise great words and phrases lose their meaning. They get so diluted by overuse that they end up meaning nothing at all. And that’s why it’s...

christine Bruno

October 7, 2014

The Interactive Tax Assistant (ITA) tool is a tax law resource that takes you through a series of questions and provides you with responses to tax law questions.

Simply answer the questions and click the “Continue Button” to progress to the next question screen.When you reach the response screen, you have the option to print the entire interview and the final...

christine Bruno

October 2, 2014

If you’re like nearly 18 million people in the US, you’re operating your business as a solopreneur. That means you’ve been doing everything, from making sales to refilling the printer paper. But what happens when your business grows beyond what you can do on your own?

It’s time to call in reinforcements. But it’s not just a matter of hiring a few...

christine Bruno

September 30, 2014

You may be able to deduct certain miscellaneous costs you pay during the year. Examples include employee expenses and fees you pay for tax advice. If you itemize, these deductions could lower your tax bill.

Here are some things the IRS wants you to know about miscellaneous deductions:

Deductions Subject to the Two Percent Limit. You can deduct most miscellaneous costs only if...

christine Bruno

September 24, 2014

https://www.youtube.com/watch?v=T3myAaV2yvI

People with moderate incomes might want to take advantage of the Premium Tax Credit. Getting your health insurance through the Health Insurance Marketplace may make purchasing health insurance more affordable.

christine Bruno

September 16, 2014

The IRS continues to warn the public to be alert for telephone scams and offers five tell-tale warning signs to tip you off if you get such a call.

These callers claim to be with the IRS. The scammers often demand money to pay taxes. Some may try to con you by saying that you’re due a refund. The refund is a fake lure so you’ll give them your banking or other private...

christine Bruno

September 11, 2014

Way too often, you can add up the percent of ownership in the heads of the partners and discover between them they think they own 200% of the company.

That’s because one thinks the idea was worth 50% or more of the ownership, the other thinks the day-to-day work was worth 50% or more of the ownership, and another thinks having written checks and invested was worth 50% or more of...

christine Bruno

September 9, 2014

The IRS reminds newlyweds to add a health insurance review to their to-do list. This is particularly important if you receive premium assistance through advance payments of the premium tax credit through a Health Insurance Marketplace.

If you, your spouse or a dependent gets health insurance coverage through the Marketplace, you need to let the Marketplace know you got married....

christine Bruno

August 15, 2014

As small businesses rely more and more on technology, if your company is like my company, you find yourself spending a bigger chunk of your budget on technology.

That’s not a bad thing if you get leverage from technology. In other words, it’s a net positive if that technology helps you sell more, serve customers faster, keep your labor costs in check, be more efficient...

christine Bruno

July 31, 2014

Employees are one of your biggest assets, even though they don’t appear on your balance sheet. They help you operate your business and are the faces of your company brand. But employees can also be a big liability if they steal from you. What can you do to protect yourself?

Acknowledge the problem

Recent statistics found that companies lose 5% of their revenues each year...

christine Bruno

July 29, 2014

You may need copies of your filed tax returns for many reasons. For example, they can help you prepare future tax returns. You’ll need them if you have to amend a prior year tax return. You often need them when you apply for a loan to buy a home or to start a business. You may need them if you apply for student aid.

christine Bruno

July 24, 2014

You’ve probably heard the adage that “keeping an old customer is cheaper than converting a new one.” But just how much cheaper is it?

According to survey data presented in the new SCORE Infographic out this month, securing a new customer is six to seven times more expensive than keeping an existing one. And loyal customers are worth up to 10 times the amount of their...

christine Bruno

July 17, 2014

When you apply for a new credit line or request a credit limit increase for your business, suppliers, creditors, and lenders want to see how your company has handled its existing credit obligations in the past. This enables them to determine if they should approve your request and to help determine what terms they should offer.

christine Bruno

July 16, 2014

https://www.youtube.com/watch?v=L1JpcsSz2Ww

Here are a few things you should know if you’re planning to sell your home:

1. If you make a profit, you won’t need to report it as a capital gain as long as the profit is less than $250,000 ($500,000 for couples filing a joint return), and as long as you’ve owned the property and...

christine Bruno

July 10, 2014

Before the Affordable Care Act (ACA), there was the Consolidated Omnibus Budget Reconciliation Act (COBRA). This allowed an employee with company sponsored health insurance to temporarily continue their coverage when leaving the company.

It applied only to companies with 20 or more employees. And you qualified if your job was terminated or you left voluntarily. It also in many cases...

christine Bruno

July 9, 2014

https://www.youtube.com/watch?v=S7pzidIM0Nk

If you want to save more, start by watching your spending. As this Bankrate video shows, regular small purchases for things like coffee can add up. Track how much you spend, and make any necessary changes.

Christine Bruno

July 1, 2014

The following article was recently published by the IRS.

WASHINGTON — Individual Taxpayer Identification Numbers (ITINs) will expire if not used on a federal income tax return for five consecutive years, the Internal Revenue Service announced today. To give all interested parties time to adjust and allow the IRS to reprogram its systems, the IRS will not begin deactivating ITINs...

Christine Bruno

June 17, 2014

Now Available – 2014 Version of IRS2Go!This new version of IRS2Go has a brand new look and feel with new added features. It is available in both English and Spanish. Download IRS2Go for Android devices from the Google Play Store or IRS2Go for iOS from the App Store.

Refund StatusYou can check the status of your federal income tax refund using IRS2Go. Simply enter...

christine Bruno

June 12, 2014

This article was recently published on SBA.gov.

Being “green” or environmentally friendly is probably not a new idea to you as a small business owner. In the last few years especially, the discussion of green business practices, services and products has become so prevalent that it’s often no longer the exception – but expected – to run a more...

christine Bruno

June 10, 2014

The Internal Revenue Service has begun a one-year pilot program in June to help small businesses with retirement plans that owe penalties for not filing reporting documents. By filing current and prior year forms during this pilot program, they can avoid penalties.

The IRS is reaching out to certain small businesses that maintain retirement plans and may have been unaware that they...

christine Bruno

June 6, 2014

This article was first published on the SBA blog.

Good news: Here’s a simple process, five easy steps, to improve your business. It’s easy to do. And, if you’re not doing something like this already, then this simple addition to your process offers you substantial business improvement.

Christine Bruno

June 3, 2014

Taxpayers abroad qualifying for an automatic two-month extension must file their 2013 federal income tax returns by Monday, June 16, according to the Internal Revenue Service.

The June 16 deadline applies to U.S. citizens and resident aliens living overseas, or serving in the military outside the U.S. on the regular April 15 due date. Eligible taxpayers get one additional day because...

Having business income but being unable to cover anticipated taxes on the income through wage withholding means you’ll have to pay estimated taxes. You’ll have to project what you think you’ll owe for the...

The Client Data Review makes it easy to adjust balances, review client mistakes, and fix them – all from one window. You can resolve many common client errors in this way. This tutorial gives you an overview...

The Internal Revenue Service has announced the successful start of its new web-based system — IRS Direct Pay — on IRS.gov, which lets taxpayers pay their tax bills or make estimated tax payments directly from checking or savings accounts without any fees or pre-registration.

If your mortgage debt has been partly or entirely forgiven, you may be able to exclude the forgiven debt from your income. Normally, the amount of debt forgiven by a lender must be reported on your tax return as...

Many students take a job in the summer after school lets out. If it’s your first job it gives you a chance to learn about the working world. That includes taxes we pay to support the place where we live, our state and our nation. Here are eight things that...

Are you associated with a tax-exempt organization that needs to file a Form 990? If so, protect yourself and others by not including unnecessary and unrequested Social Security Numbers, or SSNs, on the form. Also,...

Do you own or run a business? If so, do you know the IRS offers special tax help just for you? For example, the IRS will host two free live webinars to mark National Small Business Week, May 12 – 16. In addition, you can get many products and services for small businesses throughout the year on IRS.gov.

health care tax creditWhen you buy health coverage for your employees through the Small Business Health Options Program (SHOP) Marketplace, you may qualify for a tax credit worth up to 50% of your premium contributions.

The easiest way to avoid unnecessary penalties and interest is by paying your taxes in full and on time. But if you don’t have the means to do so, the IRS has an application that allows you or your authorized representative (Power of Attorney) to apply for an installment agreement, or payment plan.

With a key May 15 filing deadline facing many tax-exempt organizations, the Internal Revenue Service recently cautioned these groups not to include Social Security numbers (SSNs) or other unneeded personal information on their Form 990, and consider taking advantage of the speed and convenience of electronic filing.

Form 990-series information returns and notices are due on the 15th...

Let's say that you just signed your franchise contract, and you’re ready to get your new retail franchise or food franchise up and running. You’ve put hundreds of miles on your car doing some preliminary...

Most people stop thinking about taxes after they file their tax return. But there’s no better time to start tax planning than right now. And it’s never too early to set up a smart recordkeeping system. Here are six IRS tips to help you start to plan for this year’s taxes:

Wondering what to do with that tax refund you just got in the mail? While it may be tempting to splurge on something you’ve been wanting, this is a great time to pay off debt, contribute to an emergency fund,...

April 15 is the tax day deadline for most people. If you’re due a refund there’s no penalty if you file a late tax return. But if you owe taxes and you fail to file and pay on time, you’ll usually owe interest and penalties on the taxes you pay late. Here are eight facts that you should know about these...

You may have heard talk this tax season about the Earned Income Tax Credit (EITC), but you may not have understood how it works. If that sounds like you, read on to learn how it can help put some extra money in the pockets of low and moderate-income Massachusetts families.

Here’s how it works: depending on your family income, you could be eligible for thousands...

If you don’t have taxes withheld from your pay, or you don’t have enough tax withheld, then you may need to make estimated tax payments. If you’re self-employed you normally have to pay your taxes this way.

Did you live or work abroad or receive income from foreign sources in 2013? If you are a U.S. citizen or resident, you must report income from all sources within and outside of the U.S. The rules for filing income tax returns are generally the same whether you’re living in the U.S. or abroad. Here are six tips from the IRS that...

Taxpayers who make cash contributions on or before April 14, 2014, for Philippines typhoon relief can get an immediate tax benefit by choosing to claim them on their 2013 returns, according to the Internal Revenue Service.

Under special legislation enacted last week, taxpayers can choose to treat cash contributions made on or...

Refunds totaling almost $760 million may be waiting for an estimated 918,600 taxpayers who did not file a federal income tax return for 2010, the Internal Revenue Service announced recently. However, to collect the money, a return for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014.

How to Write-off Business Expenses You Pay For - Bruno P.C.As an owner, your company may not pay for every expense you incur on its behalf. Your out-of-pocket costs may be legitimate business expenses that you’ll...

When you sell a “capital asset,” the sale usually results in a capital gain or loss. A ‘capital asset’ includes most property you own and use for personal or investment purposes. Here are 10 facts from the IRS on capital gains and losses:

In QuickBooks, you can add the products and services you sell by either typing them in manually or, if you have them in Microsoft Excel, you can copy and paste them. QuickBooks categorizes your products and...

You normally must pay income tax on your investment income. That is also true for a child who must file a federal tax return. If a child can’t file his or her own return, their parent or guardian is normally responsible for filing their tax return.

Special tax rules apply to certain children with investment income. Those...

If you are an independent contractor or run your own business, there are a few basic things to know when it comes to your federal tax return. Here are six tips you should know about income from self-employment:

Self-employment income can include income you received for part-time work. This is in addition to income from...

If you’re self-employed or own a small business, you may be required to make regular tax deposits, and keeping track of them can be complicated. The IRS tax calendar which links from IRS.gov can really...

The Internal Revenue Service recently issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to misuse of trusts. Here’s the final installment of this three-part...

The Internal Revenue Service recently issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. Here’s part two of the article:

This video gives an overview of how to record sales in QuickBooks 2013. To record your sales, you must set up some basic information. This information is important whether you enter invoices, sales receipts, or...

The Internal Revenue Service recently issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

The QuickBooks Statement Writer helps accountants create professional-looking, custom financial statements quickly and easily. It’s included in QuickBooks Premier Accountant, as well as all Enterprise...

There are a few tax rules that affect everyone who files a federal income tax return. This includes the rules for dependents and exemptions. The IRS has seven facts on these rules to help you file your taxes.

Exemptions cut income. There are two types of exemptions: personal exemptions and exemptions for...

If you have at least one employee, you’re responsible for payroll taxes. These include withholding federal (and, where appropriate, state) income taxes and FICA tax from employees’ wages as well as paying the...

The IRS reminded taxpayers the Presidents Day holiday period typically marks one of the busiest weeks of the tax filing season for its phone lines. There are other alternatives to help taxpayers find answers to commonly asked tax questions.

Did you change your name last year? Did your dependent have a name change? If the answer to either question is yes, be sure to notify the Social Security Administration before you file your tax return with the IRS.

This is important because the name on your tax return must match SSA records. If they don’t, you’re...

Many people hire a professional when it’s time to file their tax return. If you pay someone to prepare your federal income tax return, the IRS urges you to choose that person wisely. Even if you don’t prepare your own return, you’re still legally responsible for what is on it.

Christine Bruno

Carolyn W. Colvin, Acting Commissioner of Social Security, recently announced 25 new Compassionate Allowances conditions, including a dozen cancers, bringing the total number of conditions to 225. The Compassionate Allowances program expedites disability decisions for...

Christine Bruno

January 21, 2014

This article was published by the IRS.

The Internal Revenue Service recently issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on Jan. 1, 2014, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will...